Regulation is a broad term that refers to the body of rules through which government bodies attempt to monitor and supervise economic activity. Regulation applies to almost every sector of the economy, from professional services to primary industries.

As a business grows, it must navigate a wide spectrum of rules and regulations that can impact significantly on its commercial activities. The operational environment for each business is different, so it is essential to understand and adapt to the rules that apply in your context. The regulatory landscape for your business could affect a range of core operations, including how you interact with competitors, how you package and promote your products and whether you need any licences to run your business.

Complying with regulations is an aspect of risk management. But understanding how government rules work in practice can also enable you to make more effective business decisions — from exploring new markets to making use of government grants and incentives.

Staying on top of regulatory obligations is a considerable burden for any business owner or senior manager. It is therefore a good idea to engage the support of a specialist lawyer, who can provide pragmatic guidance about the regulatory context for your business. LegalVision’s Regulatory and Compliance team will help your business stay compliant, while also achieving its commercial objectives.

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Regulatory and Compliance Services

Each business has its own set of regulatory challenges — whether it’s putting proper labels on imported cosmetics or seeking informal clearance before acquiring a competitor. LegalVision’s Regulatory and Compliance lawyers can help you identify the regulations that apply to your transaction or business activity, so that you can understand the risks involved and the options for moving forward.

Our Regulatory and Compliance team offers clients three main types of services:

  • regulatory and compliance advice;
  • compliance systems and training; and
  • regulator engagement.

Regulatory and Compliance Advice

Before you pursue a new commercial opportunity, LegalVision can provide advice that will strengthen the regulatory and compliance elements of your business strategy. Our team knows that useful legal advice should go beyond just summarising the rules and telling a business what it can’t do. We understand that our clients want us to explain the actual risks involved and suggest implementable measures to reduce risk.

LegalVision’s team provides practical and commercial advice across a range of regulatory fields, including:

  • Competition and Trade Practices;
  • Australian Consumer Law;
  • Product Safety;
  • Trade Promotions;
  • Liquor Licensing;
  • Food Standards and Food Labelling;
  • Cosmetics and Chemicals;
  • Import and Export; and
  • Education and Care Services.

Ongoing Compliance Systems and Training

As well as providing advisory services, our Regulatory and Compliance team can work with you to develop best practice compliance measures for your organisation and to deliver compliance training for your team. By establishing a structured compliance framework, you can keep your risk profile low and your team focused on commercial priorities.

It is always best to be proactive with compliance systems and training. If you find yourself under the scrutiny of a regulatory body, you may be expected to show what steps you will take to improve compliance outcomes in your business. The regulatory body will often ask a business to put in place stronger processes and an ongoing training program. LegalVision can help you design and implement a compliance framework that meets the regulator’s requirements, as well as your business objectives.

Engaging with a Regulator

At some point, your business may need to engage with a State, Territory or Federal regulator — such as the Australian Competition and Consumer Commission or the Queensland Office of Liquor and Gaming.

You may have received a letter from a regulator identifying concerns with your business activities, or notifying you of a regulatory investigation. Alternatively, you may want to proactively engage with a regulatory body to flag a novel business plan, so that you can work with the regulator to ensure compliance before you go to market. Whatever the circumstances, your dealings with the regulator could greatly impact your plans and your business more generally. The LegalVision team can work with you to strengthen your position and reach a pragmatic outcome through your interactions with the regulator.